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EURO-DOLLAR TECHS: Correcting
*RES 4: 1.1250 High Aug 6
*RES 3: 1.1207/08 200-DMA / 61.8% of Jun 25 - Oct 1 decline
*RES 2: 1.1191 High Aug 14
*RES 1: 1.1179 High Oct 21
*PRICE: 1.1121 04:46 GMT Oct 23
*SUP 1: 1.1115/09 Low Oct 18 / High Sep 13
*SUP 2: 1.1065 Low Oct 16
*SUP 3: 1.1058/57 Trendline support drawn off Oct 1 low / 50-day EMA
*SUP 4: 1.0991 Low Oct 15
Despite the recent pullback, EURUSD maintains a positive outlook with bullish
structures still in place and, further price appreciation is seen likely
near-term. Momentum studies remain constructive too. Should a deeper correction
unfold, strong support would be seen coming in around 1.1057, the 50-day EMA and
also the area where trendline support intersects at 1.1058, drawn off Oct 1 low.
The bull trigger is 1.1179 with bullish objectives at the 200-DMA at 1.1207.